Sonova, the Swiss hearing aid maker is expecting the Swiss franc to weigh on its earnings and sales growth this year and has cautioned its first half sales could be slow due to the lower sales of the company?s cochlear implants.
The group is looking to regain investor confidence after its top management quit following an investigation into the executive share sales ahead of profit warning after last year?s recall of Advanced Bionics? cochlear implants dented its performance. The group said that the recalled product will gradually return to the market in Europe.
“We expect overall sales in 2011/12 to be slower in the first half of the financial year because of reduced sales by Advanced Bionics,” Sonova said.
Sonova, which is the global market leader in the hearing aid market, competes with Germany?s Siemens, and the Danish GN Store Nord and William Demant.